aston Martin F1 Team Secures Financial Partner
The UK-based Aston Martin Aramco Cognizant Formula 1 Team (AMF1) has announced a new partnership with Brazilian investment management company, XP.
The deal sees XP become the team’s official global financial services partner.
The multi-year partnership has been unveiled on the eve of the 2022 Brazilian Grand Prix, which will take place this weekend in Sao Paulo – home to XP’s global headquarters.
From this weekend, XP’s branding will appear on the top-chassis and rear-wing endplates of the AMR22, Aston Martin Formula 1 car. From next year, branding will also feature on team kit and the overalls of all race and test drivers.
Jose Berenguer, CEO at Banco XP and Head of Wholesale Banking, said, “We are delighted to be partnering with the Aston Martin Aramco Cognizant Formula 1 team. We fully recognise AMF1’s ambition to become one of the dominant teams on the Formula 1 grid and feel this is a unique opportunity to bring together XP and other Brazilian partners to invest in the future of Brazilian motorsport.”
Lisandro Lopez, CMO at XP Inc, added, “As a business, we are focused on building strong, long-term relationships with companies and clients within our ecosystem. As a loved and respected brand within Brazil, we are now connected with the country’s passion for Formula 1. And that will kick off a new era for our brand, connecting us to millions of Brazilians around the world.
“In addition, supporting Brazilian motorsport and young Brazilian drivers is one of our highest priorities for this partnership. The structure we are looking to provide absolutely aims to re-establish that hegemony and put Brazil firmly back on the F1 map.”
XP joins AMF1’s partnership roster at a time of growth for the Silverstone-based motor racing team. In 2023, it will run race drivers Fernando Alonso and Lance Stroll and start the migration into its all-new 400,000 square-feet factory headquarters.
Jeffreson Slack, AMF1 Manageing Director, Commercial & Marketing, said, “We are delighted to welcome XP to the AMF1 team. They are one of Latin America’s most revered and respected investment companies, with a presence across many continents, and we are very happy that they have chosen to partner with us.
“Together, we believe that the future for Brazilian motorsport is bright: we have already signed Felipe Drugovich as one of our development drivers for 2023, and we have big plans for him.
“We are also looking forward to supporting XP’s incredible aim to help restore Brazil’s rightful position within the F1 firmament with their comprehensive support programme for
